Is Your 401(k) Plan Document Out of Date?

If your 401(k) plan document was created before 2014, chances are the document is outdated. The IRS allows you to “tack-on” amendments to your existing document but may decide it is time to restate your entire plan document whether you think it needs it or not.

2020-02-10T15:47:27-05:00February 25, 2019|Categories: Employee Benefit Plans, Retirement|Tags: , |

Causes and Resolutions for a Top-Heavy Company Retirement Plan

As an abridged explanation, a company retirement plan is considered top-heavy when plan assets at the end of the previous plan year were more than 60 percent owned by the “key employees”. Learn how to deal with the causes and challenges.

2021-08-18T14:01:18-04:00November 20, 2018|Categories: Employee Benefit Plans, Retirement|Tags: , |

Company Retirement Plans Made Easier

Company retirement plans receive special tax treatment, so the IRS has restrictions on when money can be withdrawn from a 401k account in order to prevent people from using it as a regular bank account. Here are four optional ways to withdraw money from a retirement plan if the provisions are included in the plan document.

2020-01-28T15:27:10-05:00October 29, 2018|Categories: Employee Benefit Plans, Retirement|Tags: , |

Does My Pension Plan Need to be Audited?

The first step in determining if your pension plan might need to be audited is in understanding the concepts of large plans and small plans. A large plan is a plan with 100 or more participants on the first day of the plan year and a small plan has fewer than 100 participants. Why does this matter? 

2018-11-20T13:33:59-05:00March 22, 2018|Categories: Employee Benefit Plans, Industries|Tags: , , |

In the Employee Benefit Plans World, a Year Does Not Always Equal 12 Months

We all learned in kindergarten that one year equals 12 months. Pretty simple, right? Wrong. In the Employee Benefit Plans world, a year does not always equal [...]

2019-01-16T19:28:05-05:00March 19, 2018|Categories: Employee Benefit Plans, Industries|Tags: |

401(k) Plan Check-Ups Help Plan Sponsors Maintain Compliance

Many employers sponsor retirement plans to benefit their employees. While there are a variety of plans to choose from, one of the most popular options [...]

Do 401(k) Deposit Classifications Really Matter?

Question:  Our payroll person remitted our employee retirement plan “safe harbor” money into the profit sharing accounts of participants.  Does it really matter or can we [...]

Which Is Better – Pre-Tax 401(K) or After-Tax Roth Contributions?

Question: My retirement plan allows me to choose between pre-tax 401(k) contributions or after-tax Roth contributions.  Which is better? Answer: Your pre-tax 401(k) withholding is saved in [...]

Plan’s Interest in a Master Trust – Disclosure Requirements

ASU Issued: The Financial Accounting Standards Board (FASB) issued ASU 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), [...]

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